How I became #1 in a saturated industry in my 20s ~ Alex Hormozi

industry.

And I think there are a lot of things you can take from this, both in the actual outcome itself, but also the process that was used to achieve it.

One of the things I'm going to I'm going to rewind the time clock here.

So for those who don't know me, I had a chain of gyms in California.

I was founded in 2013.

I had six gyms by 2016 that I grew just using cash flow from the growth of the facilities.

And so I was very good at the marketing and selling process of getting people in the gyms and opening them at full capacity, which was kind of my claim to fame.

Over time, I then pivoted to licensing that acquisition system to other gym owners across the U.S., right? So that was kind of the path.

And then Gym Launch kind of took off from there.

There was a two-year stint in between there where I did turnarounds.

and I'd fill other people's gyms up for a percentage of the revenue that I was bringing in, right? So that was kind of, that's the long story short.

Now, fast forward, and now we've got thousands of gyms, right? This is still a few years ago, but fast forward in the story.

It's got a few thousand gyms at this time.

One of the issues is that all these guys are bringing in people in the door, but they can't retain them for a long time.

So they can convert them into members, because we had a process around that, which again was sales.

but they couldn't keep them for a long time.

And this wasn't because of the acquisition system, they just couldn't keep any of their customers for a long time.

And so what's interesting about this is that this is for any type of service-based business that has any kind of recurring revenue model whatsoever.

And so here's what I did to solve a problem that I did not know the answer to.

So this is the takeaway that you can take from this.